Irish Sports
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21 Sep 12
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By Brian Keogh Thursday,http://www.irishgolfdesk.com September 20, 2012
Rory McIlroy has put his €2.5m Co Down home on the market.Rory McIlroy is set to move back in with his Mum and Dad after deciding to put his luxury Co Down home on the market.
But the world No 1’s manager denied that the decision to sell his €2.3m Moneyreagh pad had any security implications following his controversial comments on feeling “more British than Irish” when discussing his potential allegiance for the 2016 Olympic Games in Rio de Janeiro.
Horizon Sports Management’s Conor Ridge said: “This is purely a practical and a commercial decision, there were no security issues whatsoever.”
McIlroy plans to stay at his parents’ Holywood home when back in the province.
However, he confessed in August last year that life in Northern Ireland had become more difficult due to his high profile.
Speaking about life at home some 13 months ago and his intention to rejoin the PGA Tour, McIlroy said: “It is tough and definitely a lot tougher than it was three months ago.
“There have been people driving up the driveway at home, which isn’t very nice, but as I said the other day, it is something I am just going to have to deal with.
“It has a little bit to do with my decision to base myself in America next year. I have had security guards at my house every night since I won the US Open, patrolling around the area. It is something that I just had to put in place, I’m afraid.
Rory McIlroy’s personal practice range. Yours for £2m.“It’s tough but it is just the world we live in unfortunately. If you’re in the position we’re in, you’re so public.”
However, McIlroy revealed yesterday that it was his accountant’s advice and not security concerns that has prompted him to sell his 14-acre estate near Moneyreagh in County Down.
Rarely at home now due to his US Tour commitments, McIlroy said: “Unfortunately, I have had to make the difficult decision to sell my house in Moneyreagh. It has been an extremely difficult decision, as I have invested so much both financially and emotionally in the house and practice facilities there.
“However, with my global tournament schedule and ever-increasing schedule in the US, I am now only making it back home to Northern Ireland for a couple of weeks here and there during the summer months and at Christmas time.”
The five-bedroom house, which boasts a state of the art practice range, an all-weather tennis court/five-a-side football court and a freshwater pond, is expected to sell for over (€2.5m euro) £2m.
McIlroy is believed to have bought the house for the then £2m asking price more than three years ago, when he was based mainly on the European Tour.
Admitting that it’s tough to sell up, he added: “I have had to think long and hard about this and it has been a gut-wrenching decision, but the reality is that it is just not practical for me to own a property like this anymore when I rarely get to use it. My main priority when I get home nowadays is spending time with my friends and family.
“Hanging out with my parents and enjoying my Mum’s home cooking is what I love most about being home in Northern Ireland, so in a funny way, it will suit me to stay with Mum and Dad when I am home in future!”
McIlroy, 23, was celebrating again last week when he won the BMW Championship in Indiana, his third US Tour victory in four outings and last night teed it up in the Tour Championship in Atlanta hoping for a win that would land him the $10m FedEx Cup bonus.
A close friend said: “The facts speak for themselves. Rory is on the road almost 50 weeks of the year and he has not had any time to enjoy the house and the cost of its upkeep and maintenance for such little use are ridiculous.
“His home will always be Northern Ireland and he will return home as much as possible.”
McIlroy currently rents a luxury property in swish West Palm Beach in Florida but it is not expected to buy a US base just yet.
Rory McIlroy has put his €2.5m Co Down home on the market.Rory McIlroy is set to move back in with his Mum and Dad after deciding to put his luxury Co Down home on the market.
But the world No 1’s manager denied that the decision to sell his €2.3m Moneyreagh pad had any security implications following his controversial comments on feeling “more British than Irish” when discussing his potential allegiance for the 2016 Olympic Games in Rio de Janeiro.
Horizon Sports Management’s Conor Ridge said: “This is purely a practical and a commercial decision, there were no security issues whatsoever.”
McIlroy plans to stay at his parents’ Holywood home when back in the province.
However, he confessed in August last year that life in Northern Ireland had become more difficult due to his high profile.
Speaking about life at home some 13 months ago and his intention to rejoin the PGA Tour, McIlroy said: “It is tough and definitely a lot tougher than it was three months ago.
“There have been people driving up the driveway at home, which isn’t very nice, but as I said the other day, it is something I am just going to have to deal with.
“It has a little bit to do with my decision to base myself in America next year. I have had security guards at my house every night since I won the US Open, patrolling around the area. It is something that I just had to put in place, I’m afraid.
Rory McIlroy’s personal practice range. Yours for £2m.“It’s tough but it is just the world we live in unfortunately. If you’re in the position we’re in, you’re so public.”
However, McIlroy revealed yesterday that it was his accountant’s advice and not security concerns that has prompted him to sell his 14-acre estate near Moneyreagh in County Down.
Rarely at home now due to his US Tour commitments, McIlroy said: “Unfortunately, I have had to make the difficult decision to sell my house in Moneyreagh. It has been an extremely difficult decision, as I have invested so much both financially and emotionally in the house and practice facilities there.
“However, with my global tournament schedule and ever-increasing schedule in the US, I am now only making it back home to Northern Ireland for a couple of weeks here and there during the summer months and at Christmas time.”
The five-bedroom house, which boasts a state of the art practice range, an all-weather tennis court/five-a-side football court and a freshwater pond, is expected to sell for over (€2.5m euro) £2m.
McIlroy is believed to have bought the house for the then £2m asking price more than three years ago, when he was based mainly on the European Tour.
Admitting that it’s tough to sell up, he added: “I have had to think long and hard about this and it has been a gut-wrenching decision, but the reality is that it is just not practical for me to own a property like this anymore when I rarely get to use it. My main priority when I get home nowadays is spending time with my friends and family.
“Hanging out with my parents and enjoying my Mum’s home cooking is what I love most about being home in Northern Ireland, so in a funny way, it will suit me to stay with Mum and Dad when I am home in future!”
McIlroy, 23, was celebrating again last week when he won the BMW Championship in Indiana, his third US Tour victory in four outings and last night teed it up in the Tour Championship in Atlanta hoping for a win that would land him the $10m FedEx Cup bonus.
A close friend said: “The facts speak for themselves. Rory is on the road almost 50 weeks of the year and he has not had any time to enjoy the house and the cost of its upkeep and maintenance for such little use are ridiculous.
“His home will always be Northern Ireland and he will return home as much as possible.”
McIlroy currently rents a luxury property in swish West Palm Beach in Florida but it is not expected to buy a US base just yet.
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Replies: 9
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Where does he reside for tax purposes?
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Caroline has a base in Monaco I am told , which makes sense . Fact is that after Rory pays his caddie , his management company , his entourage , his travel and incidental expenses , and then 40% on whats left , he would be lucky to have 30% of his "earnings" in his bank account .
The only element of those figures which is negotiable is the tax element . A side issue would also be taxation of income generating assets , plus tax considerations which may kick in later in life . You wouldn't need to be a genius accountant to advise him to rethink his strategy would you ? Rory's roots are here in Northern Ireland , but our six counties are a small place and everybody knows your business and your every movement , particularly when you are as high profile as Rory . Nobody is going to "bother" Rory here when he is out and about , but the attention heaped on him by the media ensures that life can become complicated . He can still visit the local chipper quietly and chat to the owner without intrusion while waiting , but sorties into the night life spots could be fraught . I heard a couple of weeks ago about his "place " being "available" , news came straight from the horses mouth , so to speak ( not Rory who was in USA , very succesfully ). Nice buy for someone interested in golf , but the upkeep of 10 acres plus of golf course would be substantial , and I dont know many who could justify keeping it as presently . There are 5 or 6 excellent golf courses within short driving distance of Rory's property , and you would be a long time spending the cost of upkeep in annual sub or green fees . And 5 times 18 is 90 . 2 million is about right , and the accompanying status should help expedite a sale , although David Feherty took a hefty loss when he sold his property on sorting out his life and his relocation some years ago . Seems altogether sensible the move , his mates will still be here when he comes back ( to Holywood presumably ) , and his life just has to move on and adjust to new challenges . Rory has already put back more than he ever took out here , logic and lifestyle considerations now decree it is time to relocate . Rory's dad seems happy to follow his sons career when suitable , Rory's Mum I suspect would not be a fairway traipser . He has no siblings . So apart from his parents and extended family Rory is footloose and fancy free , and the world is his oyster . He can carve out a niche for himself and those close to him virtually anywhere in the world , east coast USA would be the obvious . Just bring home this weeks bacon , Rory , its about 10 millions worth ! |
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when u say "news came straight from the horses mouth",do u mean caroline
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If he had any ould bit of Irish decency he give that place as a gift to Holly and her family, but sher this guy don't want to be Irish at all a tall............
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hes young,articulate, bright, talented and rich.he should be left alone..im proud of him as a great golfer from northern ireland.lets leave it to him who he wants to play with in the next olympics.
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.....the funniest reply i think i've seen on here and perhaps the stupidest..yes rory should give his 2 million pound house to his ex girlfriends family if he has any decency..i mean that is what all teenagers do when they split up isn't it?.....
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While Jaytrumps post is a bit off the wall , think there was a done deal re Holly and the split up . No specific info here , but think Rory is not tight with money and property etc .
At age 21 anyway relationships these days dont indicate that its time to "settle down " , not compared with the old days . |
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Are you the local chipper, Kelly? You appear to know him well.
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No , Ozy , no commercial involvement ( ever), but that did happen fairly recently . Never met Rory myself , but he was frequently in our club and is friendly with our pros and some members . And I know people who do know him and his family from Holywood days . For those in golf circles here Rory has been news since he was 10 and there was that phone call . Been following his career since he was appearing at a young age and beating the tar out of our Senior Cup team amomg others .
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